Franklin Templeton launches global currency Sicav

Added 10th October 2016

Franklin Templeton Investment has launched a Luxembourg-registered global currency fund.

Franklin Templeton launches global currency Sicav

The Templeton Global Currency, a sub-fund of the Luxembourg-domiciled Franklin Templeton Investment Funds range, is a Sicav.

Using an unconstrained approach, it will aim to use long or short positions to take advantage of the "inefficient" nature of global currency markets.

The asset manager revealed that the fund will be run by California-based Michael Hasenstab, executive vice president and chief investment officer of the $130bn (£104bn, €116bn) Templeton Global Macro Group, and Sonal Desai, senior vice president and director of research at the group.

Describing it as an “all-weather strategy”, Hasenstab praised the fund for its ability to go long or short in any currency.

“By keeping a pulse on evolving economic and policy trends and employing our disciplined investment approach, we can uncover emerging opportunities to make compelling investments where the ability to go long or short allows us to best express our long-term views.

“While our investment philosophy and approach to managing currencies has remained unchanged over nearly three decades, this new fund enables us to focus on our high-conviction currency views with access to an entire opportunity set of global currency investments in developed and developing markets,” he said.

The ongoing fee for the vehicle is expected to be around 1.35%.

The launch coincides with M&G Investments’ announcement on Monday that it plans to launch a range of Sicavs in response to predictions that Britain is likely to experience a ‘hard Brexit’ when it leaves the European Union in 2019.

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Monira Matin

Senior Reporter

Monira joined International Adviser in March 2016 from Informa Global Markets where she worked as a eurobond reporter for over two years, covering fixed income markets. She has previously held a number of editorial positions covering politics, insurance and technology. Monira has a degree in Journalism and Economics from City University.


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